Manila Bulletin Business

11/09/2026

The United States’ (US) Millennium Challenge Corp. (MCC) is exploring other funding opportunities in the Philippines to implement strategic reforms in support of the development of the Luzon Economic Corridor (LEC).

MCC Acting Chief of Staff Dan Petrie said the US aid agency is keen to explore opportunities to promote mutual prosperity with the Philippines following the signing of a $60-million grant agreement for the energy sector.

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11/09/2026

Philippine internet users are reporting online fraud to digital platforms at triple the rate they go to law enforcement, exposing widening operational gap between fraud detection and recovering stolen money in Southeast Asia’s most scam-wary market.

According to data from the GSMA ASEAN Consumer Scam Report 2026, about 49 percent of Filipino scam victims took their grievances directly to tech platforms, compared with just 16 percent who reported incidents to the police.

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11/09/2026

PNB Holdings Corp. (PHC), the Lucio Tan (LT) group’s real estate unit for assets formerly held by Philippine National Bank (PNB), is reported to be finally developing its prime property in Makati City even as it is on track for its listing by way of introduction on Sept. 25, 2026.

PHC has a super prime piece of empty land at the corner of Gil Puyat and Paseo de Roxas in Makati that has remained undeveloped for decades.

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11/09/2026

Wilcon Depot is opening its newest branch in Legazpi City, Albay

As Legazpi continues to grow as one of Bicol’s leading urban and commercial centers, Wilcon Depot is ready to grow alongside the community, helping more homeowners and professionals turn their ideas into spaces built for the way they want to live.

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Wilcon Depot is opening its newest branch in Barangay 18 - Cabagñan West, Legazpi City, Albay. Now extending its one-stop home improvement experience and...

11/09/2026

Unlicensed offshore gambling platforms operating outside national anti-money laundering and counter-terrorist financing (AML/CFT) frameworks pose a growing systemic threat across international jurisdictions, attracting global players while concealing true identities and exploiting cross-border regulatory gaps.

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11/09/2026

Logistics provider Lalamove is seeking to expand its footprint in the Philippines by broadening its delivery network and services to more cities and provinces across the country.

In a Facebook post, the Department of Finance (DOF) said executives from the on-demand delivery platform outlined their growth strategy during a meeting with Finance Secretary Frederick D. Go on the sidelines of the Philippine Economic Briefing in Hong Kong.

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11/09/2026

Manila Electric Co. (Meralco) reduced electricity rates for a second consecutive month in September, as lower grid service charges and tax exemptions offset rising fuel costs driven by Middle East geopolitical tensions.

In a statement, Meralco reported that the country’s largest power distributor trimmed its overall rate by ₱0.0409 per kilowatt-hour, bringing the cost for a typical household to ₱14.7424 per kWh from ₱14.7833 in August.

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11/09/2026

Peso sinks to new low

The peso skidded to a fresh record low close of ₱62.68 against the United States (US) dollar on Friday, Sept. 11, from ₱62.535 last Thursday, Sept. 10.

According to the Bankers Association of the Philippines (BAP), the local currency hit an intraday low of ₱62.775 and a high of ₱62.63 after opening at ₱62.655.

Total trading volume was slightly lower at $1.139 billion from Thursday’s $1.189 billion.

Data from Singapore-based DBS Bank Ltd. showed that the Philippine peso’s year-to-date depreciation of 5.9 percent was the worst among Association of Southeast Asian Nations (ASEAN)-6 currencies.

11/09/2026

In this coastal town of Sebaste, near the northern tip of Antique, visiting a bank branch would require a long trip on a jeepney or tricycle over winding provincial roads, followed by hours waiting in a line that spilled onto the sidewalk.

It is a scene repeated across dozens of underserved municipalities nationwide, where basic financial tasks like withdrawing cash, paying an electric bill, or sending money to relatives have long been an all-day affair.

Today, that exhausting trip is becoming a relic of the past. Instead of traveling to the city, residents can now simply walk down the street to a neighborhood store.

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11/09/2026

Despite strong backing from foreign governments, bilateral and multilateral lenders, and private investors, ambitious projects under the Luzon Economic Corridor (LEC) will still have to navigate challenges such as dense populations and right-of-way issues that could slow their development, according to an Asian Development Bank (ADB) official.

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